Japan's finance minister says Seven & I's new 'core' brand does not raise buying rate Reuters
TOKYO (Reuters) – Finance Minister Shunichi Suzuki said on Tuesday that Japanese conglomerate Seven & i Holdings' new status as a “core” national security company would not create additional obstacles to potential acquisitions.
Seven & i, the owner of 7-Eleven stores that recently rejected a $38.5 billion buyout offer from Canada's Alimentation Couche-Tard, was among 88 companies that were newly listed last week.
If a company is classified as a core, foreign businesses that want to buy a 1% or more stake in a Japanese company must basically file for a national security review with the Japanese government before making the purchase.
In cases where regulation is sought, Suzuki said a previous review notice is mandatory “regardless of whether it is classified as core or non-core.”
“We can't say that the basic classification makes shopping more difficult,” he added.
